S & P 500 Index (1389)

The S & P has pushed its way higher to intermediate term uptrending channel resistance and as yet has not given me the benefit of the brief short term correction that I expected in the month of October.

Back in July, I had called for market recovery into the month of October. Now, it looks like the July recovery could extend into November and possibly December after a pause at current resistance.

During the summer months, I was all alone among prognosticators with my positive forecast into October. The street was awash in September-October bears. Conventional wisdom suggests that September and October are unhappy months for the market. Fortunately, my math models know nothing of conventional wisdom.

My intermediate term outlook for the S & P remains positive.